Amendment status not verified — confirm the current text below against the official source.
The State Government may, by notification, for the whole or for any specified part of the Suite, appoint any officer sub-ordinate to the Registrar to exercise afl or any of the powers and to periorm all of any of che duties, conferred and imposed on the Registrar by or under this Act subject to such controt as the State Government may direct. CHAPTER-I—FUNDS AND RESOURCES 4, Notwithstanding anything contained in the Madhya Pradesh Co-operative Societies An, 1960 ‘No. 17 af 1961), the State Development Bank may, with the prio approval of the State Government and subject 10 the Rules made under this Act, raise funds i through ’ fa) Debentures: th) . Bonds; “fc Loans; (d) Deposits; (e) Donations: and: in Grants. 5.1) With the previous sanction of the State Government and the trustee, the State Development Bank may issue debentures of one or more denominations § for— (i) such periods and at such rates of interest a it muy deem expedient against one oF "more securities held or partly held-o¥ partly be acquired or ottier assets aken'by it and other assets and securities of District Devélopent Bank transferréd or deemed 1c have been transferred to it under the provisions of section 20; tii} lhe purpose of providing loans to ‘a company or any other body corporate established, registered or constituted, as the case may be; under any law for the time being in force and approved for that purpose by the State Government, on the strength of such Goverament Guarantee and. with or without other securities and other assets, for such periods as it may deem expedient. (2) The State Development Bank shall have the right to call ia, ‘at any time, any of the :- debentures in advance of the date fixed for redemption after issuing a notice itr such manner as it may prescribe to the debenture holders. 2)The: siusbamount due.on the debentures issued by the State Development ‘Bank, and outstanding at any time, shall not exceed the aggregate of the amount duc on the securities and other assets and Government Guarantee referred to in clause (it) of sub-section (1) and the amounts paid thereunder and remaining with | the State Development Bank or the Trustee at such time. -44)-Whete debentures are issued otherwise than against Torpages held, the total amount due on debeatures issued by the State Development Bank for the purpose specified in sub-section (1) and outstanding at any lime shall not exceed the tolal amount as calculated under sub-section (3) increased by such portion of the amount obtained an the debentures as is not covered by mortgages to such exlenl as may be approved by the State Government under sub-section (1). 2 Couferral of Regstrar's Power to raise Fends. issue of meat or Prvittre Fever Sr AS aay Gr TRA Oe UT fy ATG, eT TT aR St yh S eee ay Fea ae TTT ot ee fr gaa val & Ea a FA sae Pritts fer aA at ate 2 tel serafe ot senate =, oI canto Pre atte yifarat, Pedtrartt, aber _afre auntt & fare RT Bl. (2) WI GEM, «a feera fe att art 8 nee wet & war Tang Ff safer gre wen . &. (2) 7 free aa ta Pedi a seal & sea wea ge, Sh aie fad dae a TE oncta food dam usta dH gre aphfea Bt aT, aaa et aA oH afrdea A: Wey Wee ferare He tees eal Bi Oe Bia 4, atl ae fates we, Gear St & TaN, Ses ig adie shor van ar ofaders, ca wert Fran arerafla a aerated & oe fart at ara ee wer. (2) Tom fare ace gat ar fel are RR, wha, virda Rad Ss a bad va Pa eral . A stead om agit ot and curd a & ae (@) am @ Prd & ake Fa ew o. (4) nage fedeat erat & aft wer fare not arama at ofl ger we ok MT. € & a ek fel at sea tS gest sets fr ae ea & seo fee of sed a | (2) ant peat & wared ah & am 8 ww wea Frm en ate va ee aoe ed . ae ew ace i me es ree ok fr . (9-08 8 ai pe a Bae Fer | 6-6 mets Oe TT ee Ee A Ce) fee er a 003 fe er ae er ar 2 a aa sees hotel nf fe ae ae fee a aot @ ware A fates et arbi , (4) fete ret a Bad re fy aerate ve tel siya anda den ah 73 Pare es ot rareh ope ah eae Tw we arf es sa ae er Een are), BM, é. (x) su ats Fin Font era ant Fim ae a flee ae Tene a ea oH sare & tty Bsa afer cee oe, BT] AER ER Baa-aT HR fra a Scena aon TR Rt, FoR: ewe ow we We wet FH Toe A ethe 9a. 8 ane Be A. ger HUTA il, farRRT AR aR wR, aD we Whee fer eH WTA WT SR, TTT (2) a aes SE Teas at teh afkepen a qa FW fale aha a, wt ras 4 afer & yen were at othe 8 oe weet are 8 oe at vet ert, wena aT GAH, wT TUat Say Cae fae ae ae at Ta wa a en ae eA aH ON wea EE ae a my &. 4 f. 11) The State Development Bank may, subject to such directions or instructions as may be issued hy the Reserve Bank of India or the National Bank from time io time, and with the previous sanction of the State Government issue bonds. which shall be in the form of promissory notes repayable on the expiry of such period or periods from the date of issue thereof as may be approved by the Reserve Bank of India or the National Bank: Provided that the State Development Bank may repay the amount due under the bonds at any time befnre the period or periods so fixed, after issuing a notice in such manner as it may prescribe us the hand holders, ia (21 The State Development Bank may raise funds— ry) . hy way of loans or deposits from’ the Centrat Government ¢ ora State ‘Government the National Bank. the Reserve Bank of India or such after fi financial mstitutions _ag maybe approved by the Trustee; . oo. (h) by way of deposits from the public 7 )The Registra shal be the Trustee for the purpose of securing 2 fulGlment of the > obligations of the State Development Bank to its debenture-holders and for, fulfilment. of the obligations relating ta the fuss raised under section 6 as also for the purpase 0 of sectida 20° np Y a ay So is 4 “t oer a u 2} The Trustee shatl be a Corporation sole ‘by th the name of the Trustee for the purpose of debentures and as-such shall have perpetual succession and a common seal and in his corporate name shall sue and be syed. mote . on we . a8 : wey ore - (3) The powers and functions of the Trustee shall be governed by the: instrument of trust executed between the State Development Bank and | the Trustee, as N modified from time to time by natal agreement oR Tet REPEPNVE OTR OBE PTET URES. (4) The securities furnished in favour of the District Development: Bik and other securities and assets transferred or deemed to have been transferred under the provisions of section 20 to the State - Development Bank shall vest in the Trustee from the date of such furnishing or transfer. ( 5} The debenture holders shail have a floating charge ‘on. ali such secutities and assets, on the ainounts paid uader such securities and remaining with'the State Development Bank or with the Trustee and on the other properties of the State Development Bank. . %. “) ‘The principal of, and the interest on, debentures issued under section 5.or bonds issued ur toans raised under section 6, to such maxtmum amount as may be fixed by the State Government from time-4o-time-and-subjéet-to such-conditions- as it may deem fit to impose, shall carry the guarantee of the State Government ; “Q rid a chiverinend riiay. after cotiéulting the State Development Bank and the Trustee. by notification, in the Offigie?. Gazette and by notice ceblished for not less than fourteen days in such of the principal newspapers, in and outside the State as it may select, discontinue the guarantee given under sub-section (1). of restrict the maximum amount thereof, or modify the conditions subject to which it is given with effect from a date specified in such notification or notice not being earlier than six calendar months from the date of the first publication of the notification in the Gazette. 3 Issue of Bonds and Raising of Loans and Deposits. Appointment and Powers of Trusice. oT Nar oS (3) TO aime 9, sei Tema St ofrecer Pelee at art ta wel 9 a, fies senha a ET ae a eS, Poet at wt surafee fire arnt, yer a, aenferfa, Prey a goraem an fae Ter Deer Wale Tage ay soeleia fen WET, (¥) STURT (2) & ae sfirgfae ate went, fakery on scien, sa ate fre ae al Vat ans, fre a TTT wera eter & Pritts fare feeder gra aa St ag sraegda we fed ot year 3 yore Tet sre, sraryia Pitts